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Last week, Sallie Mae boosted the annual percentage yield for its 12-month CD by 10 basis points, or 0.10% week over week, to 5.15%. Certificate of deposit rates have come a long way since the Fed started raising interest rates in March 2022. The average online bank APY has gone up by 4.14 percentage points to 4.79% since then, Wells Fargo analyst Michael Kaye said in a note Friday. Since banks generally follow the fed funds rate, interest rates on CDs and savings accounts are expected to fall in turn. "Broadly we still expect online bank deposit rates to decline," BTIG's Caintic said.
Persons: Sallie Mae, we're, Vincent Caintic, Wells Fargo, Sallie Mae's, APY, Wells, Michael Kaye, BTIG's Caintic, Morgan Stanley, BOK Organizations: Federal Reserve, Fed, New York Community Bancorp, Federal Deposit Insurance Corp, FDIC, Bank, Bank of America Locations: Wells, Wells Fargo, company's
The public comment period for the Treasury Department's rule formalizing the 1% tax on buybacks closed Tuesday. That means some of the largest companies in America may soon be getting a tax bill. The goal seems to be to discourage corporate America from buying back stock and instead invest more in hiring people and making capital expenditures. "We have a good shot at beating that old record this year," Silverblatt from S & P Global tells me. Higher growth means companies will be more willing to invest in hiring more people and making capital expenditures.
Persons: Joe Biden, Howard Silverblatt, Silverblatt, Biden Organizations: Treasury, Apple, Microsoft, Exxon Mobil, Wells, Chevron, & $ Locations: America
Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday. Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. "This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees," Affirm said in an email statement. The move is a boost to Affirm and the buy now, pay later sector in general. But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.
Persons: iPads, Apple's, Dan Dolev Organizations: Apple, Mizuho Securities Locations: San Francisco
What important lesson can we learn from history to help us in this moment? Seeing that in our past should help us expect that and hopefully brace ourselves against it in our own time. You take things case by case, situation by situation, lie by lie. Do you think the news media — as a whole — is adequately covering Trump? I think Americans broadly know that’s happening, but also that they may not necessarily know what to do about it.
Persons: Rachel Maddow, Mary, ” —, Maddow, Donald Trump’s, Isaac, Davy Aronson, Donald Trump, DOJ hasn’t, Kathryn Olmsted’s, Hitler, Charles Coughlin —, there’s, Robert Paxton’s “, , Il Mondo, Il, Fox, Rupert Murdoch’s, Trump, he’s, He’s, we’ve, Mike Pence, I’m, it’s, Jay Rosen, Organizations: New York CNN, MSNBC, Monday, Electoral College, Republican Party, DOJ, Six, New York Times, TIME, Police, Trump, CNN, Fox News Locations: New York, America, United States, Rome,
Today’s verdict for Hunter Biden is only the beginning in @HouseGOP's pursuit for accountability. Related storiesSome Republicans are also pointing out that Hunter Biden initially had a plea deal with the federal government, only for it to fall apart. "This is all about protecting Joe Biden and only Joe Biden," Miller wrote. This is all about protecting Joe Biden and only Joe Biden. It is people like Hunter Biden who lie on background checks that give law-abiding, Second Amendment-loving gun owners a bad name.
Persons: , Hunter Biden, Donald Trump, Joe Biden, that's, Biden, Karoline Leavitt, — Daniel Webster, — Eric Schmitt, Marjorie Taylor Greene, Joe Biden’s, Marjorie Taylor Greene 🇺🇸 (, U Organizations: Service, Business, Trump, Republicans, Biden Locations: New York, United States, Marjorie Taylor Greene of Georgia
Apple stock soared 7% to a record high as investors cheered developments unveiled at its WWDC event. Apple gained as much as $198 billion in market value on Tuesday. The iPhone maker is now just $29 billion in market value away from eclipsing Microsoft as the world's largest company. The stock initially sold off, with Apple shares falling 2% on Monday following the WWDC event. Tuesday's gain for Apple has re-cemented the iPhone maker as the second largest company in the world, reclaiming the spot from Nvidia.
Persons: , Goldman Sachs, Siri, We're Organizations: Apple, Microsoft, Service, Wall, Citi, JPMorgan, Nvidia
The head of France’s mainstream conservative party on Tuesday called for an alliance with the far right in upcoming snap elections, throwing his party into deep turmoil as the shock waves from President Emmanuel Macron’s decision to dissolve the lower house of Parliament continue to course through French politics. The announcement, by Éric Ciotti, the head of the Republicans, was a historic break with the party’s longstanding line and its ties to former President Charles de Gaulle. Mr. Ciotti’s call was immediately met with a chorus of angry disapproval from within his own ranks. No leader of any mainstream French political party has ever previously embraced a possible alliance with Marine Le Pen’s National Rally, or its predecessor, the National Front. The elections for the National Assembly, the lower and more powerful house of France’s Parliament, are scheduled for June 30 and July 7.
Persons: Emmanuel Macron’s, Éric Ciotti, Charles de Gaulle, Ciotti’s, Macron, Ms, Le Pen’s protégé, Jordan Bardella Organizations: Republicans, Marine, National Assembly, National Rally Locations: Europe
Left-leaning newspaper Liberation described the snap election call as an "extreme gamble," while the center-right Le Figaro ran a brief headline Monday: "Le choc" ("shock"). That happened well before the humiliation of the European election results, in which Macron's Renaissance party got less than half as many votes as the far-right Rassemblement National ... In the meantime, other commentators and newspapers, such as Les Echos, have characterized Macron's move as a game of poker. Macron's supporters defend the president as a self-made and ambitious man who has a direct way of speaking to voters. "First, he has interpreted the vote for the European Parliament as a personal insult, as a rejection of his domestic policy direction.
Persons: Emmanuel Macron, Xi Jinping, Ursula von der Leyen, Gonzalo Fuentes, Emmanuel Macron's, Macron, drubbing, Jordan Bardella, Le Figaro, Alexis Brézet, Fenoglio, Macron's, it's, Robert Ladrech, Chirac Organizations: Reuters, Macron's Renaissance Party, National Assembly, Le Monde, CNBC, Keele University Locations: Paris, France, what's, EU
But there is a possibility that residual underground lava tubes may still exist. HUM Images/Getty ImagesIf these lava tubes are anything like Earth's, they could be the perfect place for astronauts to hunker down during their stay on Mars. It's unclear if lava tubes on Mars would also be this warm — it's not a stretch to imagine, just a challenge to confirm. But to be clear, just because there could be life in these pits, doesn't mean Mars definitely hosts extraterrestrials. "This is a good place to look, but we don't know if there's life on Mars at all," Johnson said.
Persons: , Brandon Johnson, Johnson, George Rose, Ross Beyer, Beyer, there's, it's Organizations: Service, University of Arizona, Business, NASA, JPL, Scientists, Purdue University, Olympus, SETI Institute, Goddard, Arizona State University, Reconnaissance Locations: Arizona, Tharsis, Hawaii
When the sun sets in Hong Kong, the sprawling urban metropolis transitions from work to play. Arguably the world's best "bizcation" destination, Hong Kong offers endless activities once business travelers close their laptops for the day. Hong Kong Tourism BoardTo add a bit of mystery into your bizcation, consider exploring Hong Kong's speakeasies. Hong Kong Tourism BoardBut that's not the only attraction lighting up Hong Kong. A memorable bizcation requires a unique blend of work and play — and Hong Kong is the perfect destination to make it happen.
Persons: Hong, Chef Danny Yip, Vicky Cheng, it's, Chai, Noodle, speakeasies, that's, Luna Organizations: Network, Hong Kong's, Argo, Hong Kong Tourism Board, former Marine Police Headquarters, Hong Kong Tourism Board Hong, Insider Studios Locations: Hong Kong, there's, Hong, Wing, Victoria, Clearwater Bay, Tai Hang
But Democratic Sen. Ben Cardin of Maryland, who chairs the Foreign Relations Committee, criticized the House measure as a “divisive partisan bill” and said he is trying to reach a deal with Republicans to move bipartisan sanctions legislation. “Defending Israel from this flawed and biased prosecution deserves the same united support we share for the entire US-Israel relationship,” he said. “Political maneuvering by Republicans have made a bipartisan bill more difficult, but I have continued talks with those Republicans who are genuinely interested in a bipartisan path forward.”Cardin met with Senate Majority Leader Chuck Schumer on Tuesday afternoon. “If we’re going to get to the finish line, we’re going to need a bipartisan bill,” he said. We work well together.”Risch posted of X that he looks forward to the ICC legislation being on the agenda of the committee’s next meeting.
Persons: Republican Sen, Jim Risch’s, Suzanne Wrasse, Risch, Democratic Sen, Ben Cardin, , Israel, ” Cardin, Chuck Schumer, Cardin, Joe Biden, “ Sen, I’ve, ” Risch Organizations: CNN, Republican, Senate Foreign Relations, International Criminal Court, Hamas, Punchbowl News, ICC, Senate, Republicans, Democratic, Foreign Relations, Locations: Israel, Idaho, Ben Cardin of Maryland
Wall Street was definitely impressed by Apple's WWDC event on Monday. Analysts predict AI features will drive significant upgrade cycles for the iPhone 16 and iPhone 17. Here's what Wall Street is saying about Apple's WWDC event. Citi: 'Best WWDC ever'"We believe Apple's WWDC was the best WWDC conference in a long time as it introduced 'AI for the rest of the people," analysts at Citi said. Chatterjee echoed Citi's thoughts that the AI features should drive a massive upgrade cycle for the iPhone over the next two years.
Persons: Apple's, Siri, , Goldman Sachs, We're, Michael Ng, WWDC, Atif Malik, Samik Chatterjee, Chatterjee, Dan Ives, Ives Organizations: Service, Apple, Citi, Goldman, JPMorgan, Apple Intelligence, Cook
There is so much more space in LA. Alice JohnstonOne of the first things I noticed when driving to the city from the airport was how it feels like LA has way more space than London. In the UK, it can be hard to forget that you're living on a small island with millions of people. Plus, almost every house I passed here seemed to have its own garden and tons of space inside. Someone in LA told me they never even realized expensive homes sometimes share walls with neighbors, which blew my mind.
Persons: Alice Johnston Locations: LA, London
Seoul, South Korea CNN —South Korean forces fired warning shots on Sunday after North Korean troops accidentally crossed their shared border, Seoul’s military said, as tensions simmer on the Korean Peninsula following a series of tit-for-tat exchanges between the two sides. “There were no unusual movements other than the North Korean army immediately moving north after our warning shots,” said Col. Lee Sung-jun, spokesperson for South Korea’s Joint Chiefs of Staff. Video Ad Feedback How South Korea is retaliating against North Korea’s trash balloons 02:48 - Source: CNNThe 160-mile demilitarized zone (DMZ) dividing North and South Korea is one of the world’s most heavily armed borders. The South Korean military said about 20 North Korean troops were involved but could not determine how many actually crossed the MDL. They did not disclose the number of warning shots fired.
Persons: , Lee Sung, Kim Yo Jong, Kim Jong Un, Lee Organizations: South Korea CNN — South, North, South Korean, North Korean, Korean, South Korea’s, Chiefs, Staff, South, Sunday, CNN, Joint Chiefs Locations: Seoul, South Korea, South, Korea, North
“My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021. The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage. Schauer isn’t alone among Californians grappling with high hidden costs of homeownership. By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate. Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).
Persons: we’re, That’s, Bankrate, Jeff Ostrowski, , Jennifer Schauer, Schauer, wasn’t, , Schauer isn’t, it’s, you’ll, ” Ostrowski Organizations: New, New York CNN, CNN, P Global, Federal Reserve Locations: New York, Novato , California, California, Hawaii, Massachusetts, New Jersey, Connecticut, Kentucky, Arkansas, Mississippi, Utah, Idaho
In town, no one had seen or heard from Garrett, Millhollin said. “I thought for sure when I was making the 911 call that I was calling just for a body recovery,” Tyree Garrett told CNN. The accident had happened when he started to fall asleep while driving, Garrett told CNN: “I thought I’d make camp and I didn’t. Garrett told CNN he sustained a hairline fracture in his foot and some lacerations. Three of Garrett’s dogs – including Blue – are with him as he recovers, but one still isn’t back from the veterinarian.
Persons: Troy Millhollin, Brandon Garrett’s, ” Millhollin, Garrett, Millhollin, Tyree Garrett, ” Tyree Garrett, Blue, , Brandon Garrett, , I’d, ” Garrett, , Tyree Garrett’s, Sheriff Travis Ash, Brandon, Ash, “ I’m, Pitbull, Shepherd, Whippet, “ I’ve, “ They’ve, they’re, ” Brandon Garrett Organizations: CNN, US Forest Service Locations: Halfway , Oregon, Baker, County
Informatica , a U.S.-listed software developer, is well-positioned to benefit from the rise of artificial intelligence, according to analysts at Scotiabank. The California-headquartered firm last month launched its AI model — CLAIRE GPT — which is designed to help businesses use their data for generative AI applications. Generative AI, or GenAI, is the technology behind the hugely popular chatbot ChatGPT and other similar products. According to FactSet, the average price target of 16 analysts points to a 39% upside for the stock. RBC Capital analysts expect the stock to rise by 43% to $41 a share over the next 12 months.
Persons: CLAIRE GPT, Patrick Colville, FactSet, Matthew Hedberg, Salesforce Organizations: Scotiabank, The, RBC Capital, Microsoft, Data Management, RBC, Wall Street Journal Locations: Informatica, U.S, The California, Snowflake
Once a practical way to transcribe, calligraphy has evolved into a fine art. As the practice we recognize today spread across East Asia, countries like China, Japan, and Korea developed their own methods of creating high-quality calligraphy tools. Top-of-the-line brushes can cost $1,000, and quality ink sticks can reach multiple thousands of dollars. And while dedicated master craftsmen worry about the future of traditional calligraphy tools, younger calligraphers swear by the quality of these handmade items. So why are calligraphers willing to spend so much just to write?
Persons: calligraphers Organizations: Business Locations: East Asia, China, Japan, Korea
New York CNN —Shawn Fain, who led the United Auto Workers union in its strike against all three unionized American automakers last fall, is under investigation by a federal monitor overseeing the union. It dredges up past union corruption issues that sent previous union officials to prison, an issue that helped Fain win a narrow upset victory to lead the union last year. Fain was a guest of President Joe Biden at the State of the Union speech, where Biden recognized and praised him. Biden also joined Fain on the picket line during last year’s auto strike, the first sitting president to visit a picket line. Fain, a former critic of both former President Donald Trump and the Biden administration, has become a vocal supporter of Biden, who has been endorsed by the UAW.
Persons: Shawn Fain, Fain, Margaret Mock, , Neil Barofsky, Rich Boyer, Boyer, Barofsky, Mock, ” Barofsky, , We’re, Stellantis, Joe Biden, Biden, Donald Trump Organizations: New, New York CNN, United Auto Workers, UAW, Volkswagen, Stellantis, TARP, General Motors, Ford, State Locations: New York, Tennessee, Mercedes, Alabama
"In essence, edge computing complements cloud computing, extending digital transformation to the edge," Bittman said. Gartner research shows that edge computing has value in all industries, "although how it's used varies widely," Bittman said. "Whenever an enterprise has people or assets widely distributed, where interactions are taking place at the edge — shopping, assembling, collaborating, systems of all sorts — edge computing may make sense." Sectors that are the most distributed or are asset-heavy are and will use edge computing the most, Bittman said. "Edge computing brings data, analytics processing, and storage closer to the equipment to monitor machine health in real time," she said.
Persons: Thomas Bittman, Bittman, Michele Pelino, Pelino Organizations: International Data Corporation, IDC, Companies, Gartner, Forrester Research
Eyad Baba | Afp | Getty ImagesThe United Nations Security Council passed a U.S.-drafted cease-fire deal aimed at halting eight months of bloody fighting between Israel and Hamas in Gaza. In March, China and Russia vetoed a Gaza cease-fire resolution, saying it would give Israel a green light to attack the city of Rafah. "Israel has accepted this proposal and the Security Council has an opportunity to speak with one voice and call on Hamas to do the same," he said. Hamas, on the other hand, said in a statement, in part, that it "welcomes what was included in and confirmed by the Security Council resolution regarding a permanent ceasefire in Gaza." Right around the time the Security Council began voting Monday, Secretary of State Antony Blinken landed in Israel to, among other things, meet with retired Gen. Benny Gantz.
Persons: Eyad Baba, Joe Biden, Linda Thomas, Biden, Israel, Nate Evans, Benjamin Netanyahu's, Yahya Sinwar, Antony Blinken, Benny Gantz Organizations: Israeli Special Forces, Hamas, Afp, Getty, United Nations Security, U.S, Security Council, Biden, NBC, Sunday, Security Locations: Gaza, Israel, U.S, France, Britain, China, Russia, Greenfield, Rafah, Qatar, Egypt
Davidson's Gil Luria to upgrade shares to a buy. Apple shares have lagged major technology peers this year due in part to its failure to share a clear-cut AI plan. Goldman Sachs analyst Michael Ng was "encouraged by the financial implications" of the announcements, noting that new product features should help fuel an iPhone upgrade cycle . Lingering skepticism To be sure, other analysts worry that Apple's AI prospects may not be enough to power significant upgrades. "Contrary to consensus, we maintain the view that Apple's AI strategy will not lead to a significant iPhone upgrade cycle this fall."
Persons: Tim Cook, Siri, D.A, Davidson's Gil Luria, Luria, Goldman Sachs, Michael Ng, Morgan Stanley's Erik Woodring, Woodring, Toni Sacconaghi, Atif Malik, OpenAI, Evercore ISI's Amit Daryanani, Apple's, David Vogt, Tim Long, Long Organizations: Apple, Worldwide, Apple Intelligence, Napster, Citigroup, UBS, Barclays
Nearly 30 asylum seekers are stuck in the United Nations-controlled buffer zone between the Turkish-occupied north of Cyprus and the internationally recognized south amid a crackdown by the Cypriot authorities on undocumented migration following a steep uptick in Syrians arriving from Lebanon. The groups — 13 people from Syria and 14 from elsewhere in the Middle East, plus Africa and Asia — are in different locations in the buffer zone, which extends about 112 miles across Cyprus, a Mediterranean nation that is a member of the European Union, and bisects the capital, Nicosia. They arrived in the area, known as the Green Line, on foot from the occupied north. If the migrants return to the north, an area that covers about a third of the island and is recognized only by Turkey, they face deportation, because the administration there has no legal infrastructure for providing asylum. Crossing into the buffer zone from the occupied north would also constitute a crime of trespassing under that administration and would be likely to lead to their deportation.
Organizations: United Nations, Cypriot, European Union Locations: Cyprus, Lebanon, Syria, Africa, Asia, Nicosia, Turkey
While EV sales fell in the first quarter of 2024 by more than 15% compared to the previous three months — their first drop since 2020 — hybrid sales are booming. But Kia sees hybrids as an opportunity to get potential BEV buyers in the door. AdvertisementBut if you look at the largest and arguably most important segment these days, compact SUVs, hybrids account for nearly one-fifth of sales, Kosowski said. AdvertisementFor Kia, building hybrids instead of EVs affects its bottom line beyond the revenue it generates. EVs cost substantially more to build than ICE and hybrid vehicles.
Persons: , Steve Kosowski, Kia, Kosowski, Kia Niro, ROBIN TRAJANO, BEV, ZEV Organizations: Service, Business, Long, Kia Motors America, EV, Kia, ICE Locations: PWC
CNN —A federal jury has convicted Hunter Biden on all three federal felony gun charges he faced, concluding that he violated laws meant to prevent drug addicts from owning firearms. Leaving the courthouse after the verdict, Hunter Biden shuffled his family members into an elevator as he held hands with his wife. The weeklong gun trial featured intensely personal and gut-wrenching testimony about Hunter Biden’s well-known struggles with alcoholism and crack cocaine addiction. Hunter Biden’s defense team argued, unsuccessfully, that he didn’t view himself as a user or addict when he bought and possessed the gun. Defense attorney Abbe Lowell had implored the jury to acquit Hunter Biden on those grounds.
Persons: Hunter Biden, Joe Biden’s, David Weiss, Melissa, ” Hunter Biden, God, Biden, , , “ Jill, Hunter, Jill, Jill Biden, Kevin Morris, Valerie Biden, Biden’s, Donald Trump, Hunter Biden’s, Trump, Joe Biden, Weiss, Weiss ’, Maryellen Noreika, ” Prosecutors, Hallie Biden, Beau Biden –, Abbe Lowell, acquit Hunter Biden, CNN’s Hannah Rabinowitz, Paula Reid, Kit Maher Organizations: CNN, Department, Trump, Locations: Delaware, , New York, China
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